· Almalia Sanlam Active Shariah Global Equity UCITS ETF (ticker: AMAL) to list on London Stock Exchange this week
· AMAL UCITS ETF to be compliant with Islamic Law
· AMAL UCITS ETF has appointed Sanlam Investments’ UK award-winning Global High Quality equity team to manage the assets
· AMAL UCITS ETF will be the 10th and first actively managed ETF on the HANetf platform since it launched its first ETF in October 2018
Later this week, the international financial services group, Almalia, will launch the world’s first active global equity Shariah compliant ETF . The Almalia Sanlam Active Shariah Global Equity UCITS ETF (the ETF) will launch via the HANetf platform and will list on the London Stock Exchange later this week.
Almalia has selected Sanlam Investments UK to manage the assets of the ETF based on the success of its award-winning Global High Quality Strategy which was launched by Sanlam’s Global Head of Equities, Pieter Fourie, in 2008. The ETF will form part of this strategy and will be managed by Pieter along with his team of six investment professionals.
The ETF will aim to achieve capital growth over the medium to long term, whilst complying with the Principles of Shariah Investment. To this end, it will invest in companies with high returns on capital and low leverage, as well as enduring business models with a sustainable competitive advantage, producing significant free cash flow after capital expenditure. Investment screening, to ascertain the ETF’s on-going compliance with the Principles of Shariah Investment, will be overseen by a Shariah Panel of scholars from Amanie Advisors with deep expertise in Islamic Investment. Islamic financial products share four main features; they are asset backed, ethical, share risks equitably and are subject to good governance.
The fund may be suitable for investors looking to access an experienced active management team offering a high-quality strategy with the efficiencies, flexibility and democracy that are inherent to the ETF structure.
“We are proud to be the first to launch an actively managed Shariah compliant global equities ETF. Our team is passionate about values-based investing and providing innovative solutions to underserved investors. This ETF may be suitable for investors looking for an actively managed strategy with a focus on good governance, as well as those who wish to invest in a Shariah compliant way.”Paul-David Oosthuizen, CEO of Almalia
“It is an incredibly exciting opportunity and privilege to manage the world’s first actively managed Shariah compliant ETF. The launch allows us the opportunity to demonstrate that active management using high quality-based investment principles within the parameters of a Shariah compliant universe can add significant value to investors. With this fund launch we believe an underserviced market can be given a better outcome, by following the same strategy as our Global High Quality fund which invests in businesses that have durable business models, wide economic moats and the ability to deliver significant shareholder value over the long term.”Pieter Fourie, Head of Global Equities at Sanlam
“We are delighted that Almalia chose us to help them develop and launch the world’s first actively managed Shariah compliant ETF. Active ETFs are currently relatively few in number but represent a huge growth opportunity. ETFs have firmly established their credentials for basic beta exposure, and tomorrow’s battle grounds are thematic, smart beta and ultimately active strategies. As the ETF industry continues to enjoy strong growth, more active fund managers are looking to enter the sector and we look forward to helping them bring their strategies to the European market.”Nik Bienkowski, Co-CEO of HANetf
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Almalia is a financial services group headquartered in the UK with a presence in the UAE. Almalia’s core focus is providing innovation within Islamic finance, to create greater variety and global access to Shariah-compliant investment opportunities. This core focus in underpinned by two themes namely wealth creation and meaningful financial inclusion. www.almalia.com
Sanlam Investments UK is the offshore boutique asset management and fund business arm of the financial services group, Sanlam Limited. Sanlam Investments UK manages over £5.3 billion in both single strategy and long only funds, specialist multi-asset solutions and captive fund solutions.
Sanlam Limited is an international financial services group with a listing on the Johannesburg Stock Exchange and a market capitalisation of £10.2 billion. Established in 1918, the group provides a range of services to over 10 million clients globally, including insurance, financial planning, investments and wealth management.